Nigeria: Ecobank and FCMB launch two initiatives to boost SMEs' capacity

Apr 01, 2015

SMEs are increasingly targeted by banks.

Ecobank and First City Monument Bank (FCMB) have both launched new initiatives to attract and contribute to developing small and medium-sized enterprises (SMEs) in Nigeria.

Ecobank unveiled the SME Club, which offers preferential business support, products and services to SME customers across the country, Vanguard reports.

According to Jibril Aku, managing director of Ecobank Nigeria, the massive empowerment for the SMEs is in line with the bank's vision "to contribute to the economic development and financial integration of Africa."

The SME Club offers capacity development and technical assistance. It also provides accounting, tax and legal services and platforms, as well as B2B linkage across Africa, access to market information, economic updates and exchange rate information.

Meanwhile, FCMB unveiled an empowerment programme dedicated to SMEs in a bid to enhance their financial, marketing and management skills so that they can grow their businesses and bottom-lines.

FCMB's director in Lagos and South-west Olufemi Bakre told Vanguard that the training was conceived by the bank to build the capacity of SMEs by exposing them to modern and innovative skills that would help them realise their objectives.ADNFCR-2976-ID-801782172-ADNFCR